Nigerian Interbank Payment System

The Nigerian Interbank Payment System (NIPS) facilitates quick, secure electronic transactions between banks within Nigeria. It processes various payment types, such as fund transfers and electronic wallets, ensuring that money moves efficiently from one bank account to another. This system supports Nigeria’s digital financial infrastructure by enabling real-time, seamless, and reliable payments, helping individuals and businesses conduct transactions instantly without cash. Overall, NIPS enhances the convenience, speed, and security of banking operations across the country.